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US judge rejects creditors' request to remove Caesars' lawyers

US judge rejects creditors' request to remove Caesars' lawyers

CHICAGO: A judge has rejected an unusual attempt by junior bondholders of Caesars Entertainment’s bankrupt operating unit to disqualify law firm Kirkland & Ellis from leading the casino group’s US$18 billion Chapter 11 restructuring. Jones Day, the junior bondholders’ law firm, had asked the court to reconsider a May order that allowed the bankrupt unit […]

October 29, 2015 | By | Reply More
6% on-year increase in visitors to Singapore in August

6% on-year increase in visitors to Singapore in August

SINGAPORE: The number of visitor arrivals in the Republic hit 1.4 million tourists in August, an increase of 6 per cent compared to a year ago, said the Singapore Tourism Board on Thursday (Oct 29). Following a sluggish start to the year, there was an upward trend in visitor arrivals since May, supported by numbers […]

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Broken lever

Broken lever

BRAZIL does not look like an economy on the verge of overheating. The IMF expects it to shrink by 3% this year, and 1% next. (The country has not suffered two straight years of contraction since 1930-31.) Fully 1.2m jobs vanished in the year to September; unemployment has reached 7.6%, up from 4.9% a year […]

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Letting go

Letting go

There are strings attached YI GANG, a deputy governor of China’s central bank, mused this week about shopping in Moscow in the 1980s. In the streets around Red Square, he said, visitors could find many big shops with identical low-quality goods. But among the drab displays were a few Yugoslav and Polish stores with better […]

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Take it easy

Take it easy

THIS was supposed to be the year when monetary policy started to get back to normal. Seven years after Lehman Brothers collapsed, central banks were expected to edge away from a policy of near-zero interest rates. But now, with the year almost over, the Federal Reserve has yet to push up rates while other rich-world […]

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The eyes have it

The eyes have it

Noteworthy THEY are, in the view of Paul Volcker, a former chairman of the Federal Reserve, the only useful financial innovation of recent decades. Better yet, cashpoints (ATMs, to Americans) are still evolving. This week Citibank unveiled one that can identify account-holders by scanning their irises, thus doing away with codes—and with cards, for that […]

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Does not compute

Does not compute

GIVEN the many mistakes that human investors are prone to—selling after a market tumble, trading too often, believing they can beat the stockmarket—dealing with money is perhaps best left to computers. That is the premise behind a host of firms selling computer-generated financial advice, which assist savers tired of paying for pricey human counsel. The […]

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Winning converts

Winning converts

THERE is a proselytising feel to the credit-union movement. Believers talk of a “social mission”: to serve communities, not the false gods of the stockmarket. Today, this creed is winning more converts than ever before. Globally, the number of people in credit unions has doubled since 2000, from 108m to 217m. Savings are up by […]

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A harder road ahead

A harder road ahead

FOR two decades China was a land of seemingly limitless opportunity for multinationals. Japan and South Korea had shut out foreign firms during the early phase of their economic development. By contrast, China’s leaders, after Deng Xiaoping’s reforms in the early 1990s, made them welcome. Provided firms brought world-class technologies, and agreed to joint ventures […]

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The big-box game

The big-box game

SINCE the financial crisis, the tide of recovery has not lifted all boats equally. But in few industries is that more true than in shipping. Demand for oil tankers has boomed: a combination of weak spot prices and higher futures prices, driven by the assumption that supply and demand for crude will eventually rebalance, has […]

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